Asia-Pacific Strategic Investments Signs SG$2 Million Loan Deal

MT Newswires

Yesterday

Asia-Pacific Strategic Investments (SGX:5RA) signed a convertible loan agreement with Times & Fun to borrow SG$2 million for general corporate and working capital needs, according to a Monday filing with the Singapore Exchange.

The loan carries an interest rate of 1% a year and has been fully drawn down.

The loan is convertible into new shares at SG$0.0011 apiece, with full conversion resulting in the issuance of around 1.82 billion shares, handing the lender a 9.25% stake in the real estate firm.

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